Maral Overseas Limited has informed the Exchange regarding Appointment of Mr Suman Jyoti Khaitan as Non- Executive Independent Director of the company w.e.f. November 04, 2025.
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Maral Overseas posted Q2 FY26 revenue of ₹24,970 lakhs, down about 8% from ₹27,104 lakhs in the same quarter last year. The company narrowed its net loss to ₹278 lakhs from ₹695 lakhs a year ago, though losses for the first half of FY26 stood at ₹1,535 lakhs versus ₹1,340 lakhs in H1 FY25, with the Garment segment continuing to drag (₹1,035 lakh segment loss in H1). Total equity fell to ₹9,227 lakhs from ₹10,889 lakhs as of March 2025, while borrowings remained high at around ₹36,040 lakhs. The Board approved the appointment of Mr. Suman Jyoti Khaitan, a practising advocate and founder of Suman Khaitan & Co., as Non-Executive Independent Director for five years from November 4, 2025, subject to shareholder approval. The Board also put on hold the previously approved capex plan for modernisation in Spinning and Engineering divisions and capacity addition in Yarn Dyeing, citing financial constraints, and will instead lease critical machinery to keep plants running.
Mixed for shareholders: loss narrowed sequentially and operating cash flow improved to ₹5,596 lakhs, but revenue is shrinking and the Garment segment remains structurally unprofitable. The deferral of capex and continued reliance on leasing signals tight liquidity, while the addition of a high-profile legal independent director may strengthen board oversight.